The Auckland Chronicle. Thursday, April 18, 1844. COLONIAL POLITICS.

Auckland Chronicle and New Zealand Colonist, Volume 2, Issue 37, 18 April 1844, Page 2

The Auckland Chronicle. Thursday, April 18, 1844. COLONIAL POLITICS.

We may in some respects compare the situation of a new Governor to that of an heir 'just taking possession of his estate, if, his predecessor has been prudent he steps into a good inheritance, but if on the contrary the property has been wasted and incumbered with heavy mortages it becomes no easy task to make matters square. The similie may be carried a litt!e farther, 'and the people compared to the tenants of the estate, they are the source from which the income is derived, and they alike feel the pressure of evil arising from the mismanagement and improvidence of those who are placed over them. The one by an increase of rent and the other by fresh taxation seeks to repair his impoverished resources. it

Unfortunately for the people of New Zealand our Governor is placed in this ejiibarassed situation, he has not only to provide the ways and means for the current expenses of the Government, but he inherits the incumbrances, and clamourous debts incurred by his predecessor. In order to liquidate these obligations, Debentures will be issued we believe to the extent of about £15,000, bearing interest at the rate of 5 per cent, and payable in two year which will be in April J 846. We do not see that bis Excellency has any alternative, unless he would prefer drawing on the British Treasury, which would be directly contrary to Lord Stanley’s instructions ; nevertheless if this had been done we should not apprehend that the bills would have been dishonoured because no waste of funds or extravagant expenditure has taken place during Captain Fitz-Roy’s ad

ministration, and they could not object to pay the salaries of those officials who fill situations that are deemed essential to the efficiency of our local Government, and many of whose appointments have been approved by the Secretary for the Colonies. It is rather amusing to hear the speculations of some people on the subject of Debentures, who perhaps have scarcely a pound in their possession at one time in the course of the year ; and yet, assuming an air of great gravity, they declare they would not take them on any account. Others again seem to think the thing is not so had, “but then it will be very difficult to get rid of them.” Now this we happen to think will be the easiest part of the business, and as far as ourselves are concerned we are not under the apprehension on that score. We have all along been of opinion that the greatest difficulty will be to get hold of them. We know there are a few usureis in the Town who have already begun to cry them down wherever they go, and make it their business to depreciate their value, we suppose with a view of buying them up at a large discount. We hope the Townspeople will not listen to these interested individuals who care not what becomes of the Colony if they can only screw enough out of it to go home and live independant. We should be sorry to see the Government officers loose by them, for whatever our opinion may be as to the wisdom and usefulness of continuing the offices some of them fill, still as long as they are employed by Government, they should certainly not be paid in a depreciated currency.

We think if a suggestion in the Times of Tuesday last were adopted, to issue a great part of the Debentures in small notes, it would be a decided improvement, as they would then be within the reach of the labouring class, and supply the place of a circu'ating medium; besides the saving to the Treasury of interest upon all under ten shillings. With this alteration we tuink the Merchants. Shopkeepers, and Tradesmen of Auckland would be satisfied, and have the good sense to receive them at par; but if this should not be unanimously agreed upon, we hope those who have faith in the integrity of the Government, will post up a notice in their windows to the effect that Debentures will be taken at par, in payment for goods bought at their stores. This would soon bring the doubtful portion of the public to their senses, and the measure would then operate as a decided toxiic on the languishing estate of trade. o o

We hope soon to see the business of the Land Claims Commissioners terminated, which will be a saving of more than £2,000 per annum to the Treasury. Had it not been for the exorbitant fees demanded, this business would have been finished long ago, but it was ab-

solutely out of the power of many of the land claimants to comply with such extortion. We trust his Excels lency will order the Commissioners to investigate all cases brought before them, even if the parties cannot advance the opening fee of £5 demanded ; and we fully expect those who have paid it will be allowed a proportionate quantity of land out of their purchases in lieu of it. These impolitic fees by putting it out of the power of people to bring their claims forward, have extended to four years, a business that might have been settled in twelve months; making a difference of about £BOOO to the Treasury. This is being penny wise and pound foolish with a vengeance.